Krung Thai Bank begins pre-marketing

Merrill Lynch launches pre-marketing for a roughly $500 million government divestment.

Pre-marketing begins today Wednesday for a three billion share offering in Krung Thai Bank, representing 27% of the lender's issued share capital. However, while the government has been clear about its strategic goal, the lead is said to be taking a very cautious and pragmatic approach and intends to keep most of the deal's details including its launch schedule as fluid as possible.

This is hardly surprising given the renewed threat of hostilities towards Iraq and poor performance of ever...